Scapa trading in line with expectations

Scapa, which supplies adhesive bonding for electronics and medical equipment, reports that current trading is in line with expectations against continued macroeconomic uncertainty.

In a trading update for the six months ended September 30th 2012, it says: "Group revenue and operating profits are ahead of the same period last year and in line with expectations. The operating profit continues to improve and we remain net cash positive with strong cash flow increasing net cash to £8.5m."

Webtec Converting, the US healthcare acquisition made in December 2011 for an initial consideration of $30m (a further payment of up to $15m is dependent on hitting profit targets), continues to perform well and make a positive contribution to group performance.

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The AIM-listed company, with a market cap of approximately £98m, expects to announce its interim results on November 27th, 2012.

Consensus forecasts for the year ending December 31st 2012 are for pre-tax profits of £11.5m, on turnover of £213.3m, putting it on a forward price earnings ratio of 14.3.

CM